A recent analysis prepared by an economic policy expert at IDIS Viitorul notes that Moldovan residents took out 8.4 billion lei in bank loans in the second quarter of 2026, setting an all-time quarterly record for lending. At the same time, the total volume of new loans for the first half of the year reached 15.4 billion lei. The expert notes that the current growth in lending reflects rising living standards and increased household confidence in economic stability. By comparison, throughout all of 2015, the country’s residents received bank loans totaling 3.4 billion lei—nearly 2.5 times less than the volume of loans issued during just the April–June 2026 period. Within the structure of the retail loan portfolio, consumer loans account for 59%, mortgage loans for 36%, and business development loans for 5%. The consumer lending segment continues to grow at the fastest pace. In the second quarter, banks issued 77,700 such loans—the highest number on record. Over the past 12 months, households took out approximately 295,300 consumer loans, with their total volume exceeding 18 billion lei on an annualized basis. According to Veaceslav Ionita’s assessment, the country’s residents are increasingly using loans to finance major purchases, following a model typical of developed economies. Herewith, the expert warns that the growth in consumer lending contributes to an increase in imports of goods and, consequently, to a widening trade deficit. The expert noted that one of the factors driving market growth has been the decline in borrowing costs. While the average interest rate on bank loans stood at 15.5% in 2015 and reached 16.4% in the first quarter of 2023, it fell to 10.7% in the second quarter of 2026. In addition, the mortgage lending market is gradually recovering: in January–June, banks issued approximately 3,800 mortgage loans totaling 5.4 billion lei. Although this figure remains below the record level set in 2025, the market is showing signs of recovery thanks to stabilizing housing prices and lower interest rates. The average size of a new mortgage loan has risen to 70,100 euros, compared to approximately 20,000 euros 10 years ago, while the average interest rate on new mortgage loans has fallen to 8%. Over the past 12 months, Moldovans have taken out new mortgage loans totaling 11 billion lei, while simultaneously repaying 4.6 billion lei in previously obtained loans. As a result, the total mortgage portfolio reached 29 billion lei, increasing more than 14-fold compared to the level of ten years ago. Its ratio to GDP rose from 1.5% to 7.9%. Overall, the total amount of debt owed by individuals to banks reached 51.2 billion lei, which corresponds to approximately 14% of GDP. A year earlier, this figure stood at 46.1 billion lei, and in 2023, it was 25.3 billion lei. According to Veaceslav Ionita’s forecast, the bank lending market will continue to strengthen in 2026: demand for consumer loans will remain high, and the mortgage segment will gradually recover amid falling interest rates and rising household incomes.// July 27, 2026 – InfoMarket.